Thailand must check the runaway gain in its currency as it makes it harder for exporters to compete in the global market, according to the Federation of Thai Industries.
Authorities should curb foreign capital inflows if they continue to pressure the currency, FTI chairman Supan Mongkolsuthree said in an interview on Wednesday. The group considers baht at about 32 to a US dollar, about 6% below its current rate, as an ideal level to support exports, he said.
While the Bank of Thailand last week introduced a raft of measures to cool the baht’s rally, Finance Minister Arkhom Termpittayapaisith called for further steps to make the currency more competitive for exports. The push for a weaker currency stems from bets only a rebound in…
